BANKNIFTY Intraday Trade Setup For 16 Feb 2023
Buy-Above 41800
Sl-41690
T-42000 42185
Sell-Below 41450
Sl-41560
T-41300 41150
BANKNIFTY has closed on a slight bullish sentiment with 0.2% gain. Today it opened and sell triggered below 41565 and gave almost 110 points gain which was 1:1. It was updated to eat in pieces. Later it turned total sideways at 41600. Last hour 10 o'clock range broke and gave more than 75 points gain. It has closed near hourly range. If it sustains above today's high- 41800 then we can see good up move, only hurdle is 42000. For a trendy downside move it has to sustain below i) 41580 and then ii)below 41550.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 41800 then we will long for the target of 42000 and 42185.
For selling we need a 15 min candle close below 41450. T- 41300 and 41150.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
Buy-Above 41800
Sl-41690
T-42000 42185
Sell-Below 41450
Sl-41560
T-41300 41150
BANKNIFTY has closed on a slight bullish sentiment with 0.2% gain. Today it opened and sell triggered below 41565 and gave almost 110 points gain which was 1:1. It was updated to eat in pieces. Later it turned total sideways at 41600. Last hour 10 o'clock range broke and gave more than 75 points gain. It has closed near hourly range. If it sustains above today's high- 41800 then we can see good up move, only hurdle is 42000. For a trendy downside move it has to sustain below i) 41580 and then ii)below 41550.
Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 41800 then we will long for the target of 42000 and 42185.
For selling we need a 15 min candle close below 41450. T- 41300 and 41150.
In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
